In quotes: Reactions to Allianz's plan to buy Income Insurance for US$1.6b
The Income Insurance building at Bras Basah Road on Jul 25, 2024. (Photo: CNA/Try Sutrisno Foo)
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On Jul 17, German insurer Allianz announced plans to buy a majority stake in Singapore's Income Insurance for about US$1.6 billion. The deal is pending regulatory approval, but some worry that Income would stop prioritising the needs of Singaporeans, while others say the deal would help it stay competitive in the insurance sector. Here are key quotes from stakeholders and observers:
Source: CNA
